Many people assume that buying a term insurance policy means they are adequately protected against every risk. But insurers also offer an accidental death benefit rider that promises an additional payout if death occurs due to an accident. Does that mean you need both?
The answer depends on your existing life cover, occupation, lifestyle and financial responsibilities. An unfortunate death due to an accident is often followed by expensive treatments to save life, and may significantly erode your savings and assets meant to support the family. For many, term insurance cover may not be sufficient, and accidental insurance may offer the desired support.
